2006 RES R-70-06 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. R-70-06 RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A SUBLEASE/OPTION AGREEMENT AND SITE LEASE AND AUTHORIZING AND DIRECTING CERTAIN ACTIONS IN CONNECTION THEREWITH WHEREAS, the City of Colton (the "City") is a municipal corporation duly organized and existing under the laws of the State of California; and WHEREAS, the City desires to finance the acquisition and construction of certain real property improvements including the remodel of City Hall and Colton main fire station and completion of the fire training tower (the "Project"); and WHEREAS, Municipal Finance Corporation (the "Corporation") has offered the City a cost-effective lease financing arrangement in an amount up to $1,500,000.00 at a rate not to exceed 4.25 percent to finance the acquisition and construction of the Project; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Colton as follows: SECTION 1. Sublease/Option Agreement and Site Lease. The City Council hereby approves entering into a Sublease/Option Agreement and Site Lease, subject to approval as to form by the City Attorney, and authorizes the Mayor, the City Manager, the Director of Finance or a designee in writing (each, an "Authorized Officer') to execute and deliver the Sublease/Option Agreement and Site Lease, together with any changes therein or additions thereto deemed advisable by an Authorized Officer, whose execution thereof shall be conclusive evidence of approval thereof. SECTION 2. Attestations. The City Clerk or other appropriate City officer is hereby authorized and directed to attest the signature of an Authorized Officer or of such other person or persons as may have been designated by an Authorized Officer, and to affix and attest the seal of the City, as may be required or appropriate in connection with the execution and delivery of the Sublease/Option Agreement and the Site Lease. SECTION 3. Other Actions. An Authorized Officer and other officers of the City are each hereby authorized and directed, jointly and severally, to do any and all things and to execute and deliver any and all agreements, documents and certificates which they may deem necessary or advisable in order to carry out, give effect to and comply with the terms of this Resolution, the Sublease/Option Agreement and the Site Lease. Such actions are hereby ratified, confirmed and approved.